US service data to confirm firm footing

The USD is expected to remain on the sidelines during this week after the weaker-than-expected NFP report but acknowledge the risk of a move up on the premise that major central banks should continue leaning towards a more dovish stance and that they could actually announce outright easing as soon as this week. 

As such, the medium-term view for the USD remains intact as the US economy looks relatively isolated compared to the rest of the world. On that regard, the service ISM for September should confirm that on Monday. It is expected to decline from 59.0 to 57.5 (consensus: 57.7) but remaining well above its historical average. Later in the week (Thursday) the minutes of the September 16-17 meeting will be published. 

"We do not anticipate major changes compared to the statement, but it definitely would be interesting to see how the committee assesses the impact of global uncertainty and China slowdown into the US economy and the FOMC thinking process", says Barclays.